We at DealHub recently partnered with Pavilion (formerly known as Revenue Collective) to survey more than 100 revenue leaders and gain an understanding of how they’re dealing with pricing and subscription challenges, managing their sales stack, and delivering quotes and proposals in today’s increasingly complex workplace.
Here’s a short preview of our findings, which may help reveal friction points within your own organization and create cause for improvement. Want to see some other seriously surprising findings? You can download the full report here.
80% of reps don’t have a good grasp of sales margins
Why does it matter that most sales reps aren’t knowledgeable or confident about their company’s margins?
Many reps have autonomy over when and how much to discount. Without being aware of the margins for every configured package, they may offer less-than-optimal discounts, leading to revenue leakage.
This is something that can be fixed by improving or automating workflow processes and through better sales training.
41% report that plan changes are the main challenge in subscription management
Companies change pricing and packages frequently, but sales reps aren’t always kept up to date on these changes.
Companies can empower their sales team, improve the accuracy of quotes, and proactively optimize revenue by using software that helps them manage and communicate plan changes.
What companies spend annually per rep on sales tools
According to our survey, companies with 11-20 sales reps spend an annual average of $1,417 per rep on sales tools, which is the least of all groups we surveyed.
Every B2B organization should periodically calculate this figure for themselves. If you find that it’s well above this benchmark, this may be a sign that it’s time for a revenue operations expert who can find solutions to consolidate your spend and connect your stack.
Want to benchmark your sales and revenue operations against other companies?
And if you’re ready to consolidate your tech spend and connect your sales stack, take the next step by requesting a DealHub demo today.